The World Gold Council said Vietnam's demand was weak. Lower prices and import limits affected the market.

Vietnam's gold bar price has fallen 7.7% this year. It is also 26% lower than its peak in January.

In the first half of the year, Vietnam sold 15.6 tonnes of gold bars and coins. This is less than Indonesia and Thailand.

Vietnam's jewelry demand also dropped. It fell 28% to 1.8 tonnes.

Indonesia had a 40% increase in gold demand. It is now one of the fastest-growing gold markets.

Thailand had its best second quarter since 2019. The lower gold price encouraged people to buy.

A shop in Hanoi sells gold coins. This photo was taken in February 2024.

Southeast Asia's gold bar and coin sales rose 7.6% to 36.7 tonnes. This includes sales from Indonesia, Malaysia, Singapore, Thailand, and Vietnam.

Global demand for gold bars and coins fell 3% to 307.1 tonnes.